Leveraging Empire Avenue, A Powerful Social Networking Strategy
The Social Stock Market
Empire Avenue is a simulated stock trading game where each user is a publicly traded stock. When joining, you choose a ticker (a username) and which index you would like your stock traded under. Other users can buy your stock and earn dividends or buy low and sell high for a tidy profit.
What makes Empire Avenue unique is that it allows users to connect their social media accounts such as Twitter, Facebook, and LinkedIn to their account. This allows users to make the most of both their Empire Avenue account and their social media campaign.
EA offers a number of perks to users with active accounts on social networking sites. Because of these perks, you're able to use Empire Avenue to increase your readership on social media sites.
How Empire Avenue Works
Before I get into the nitty gritty of leveraging Empire Avenue for your social media campaign, I should explain how EA works.
As a new user to the site, you'll notice that your stock starts out fairly low (around $10 per share.) When other users buy your stock, aside from your prices going up, you earn 50% of what they invest in a virtual currency called eaves. You can then use eaves to invest in other users' stock.
To earn more eaves, you can either sell off investments that have increased in price since you've purchased them or your can hold onto the stocks and earn dividends. And, of course, you'll continue to earn eaves when more people invest in your stock!
Don't spam your social networking accounts - Your stock may pay out more in dividends if you post more often on social media sites, but spamming is a great way to lose your following.
Invest in other users - If you invest in others, they'll likely return the favor. The point of the game is to get as many people to invest in your stock as possible. Plus, the more people who invest in your stock, the more people who will have a reason to re-share your tweets!
Invest in high dividends payouts - If you earn a lot from other users' dividends, you'll have more eaves to increase your investment portfolio.
Social Media & Dividends
The more your stock pays out in dividends, the more likely people are to invest. Since you want to get as many people as you can to invest in your stock, you'll want to make sure your stock pays out some great dividends. This is where your social media usage plays a big role in your stock sales!
Empire Avenue bases your stock's dividend payout on how much (and how well) you use sites like Twitter. They use the number of times you tweet, how often you're re-tweeted, how many times someone @s you, the number of people who follow you, the number of posts you make to Facebook, how many likes you receive on your posts, and so on in their algorithm.
The better you perform on these social networking sites, the higher your stock will pay in dividends (thus more people will be motivated to invest.)
Getting Help in Your Social Media Campaign
When a user invests in your stock, they usually do so to earn dividends. Since dividends are based on how well you perform on social networking sites, users who have invested in your stock (investors) have the tendency to "help you out" on Twitter. In fact, as investors buy your stock, these same people will often follow you on Twitter and even re-tweet you.
Don't invest in these stocks...
Don't invest in users who don't have social networking accounts attached to their EA account (you won't earn any eaves or social media love from them.) Here's why:
- Other users will be less likely to invest. Their stock won't really make an increase, so it's not a stock that will resell for very much.
- The user will have no reason to re-tweet your stuff.
- And the biggest reason of them all: Since dividend payouts are based on social media usage, you won't be earning decent dividends from their stock
Since other users' participation on Twitter also helps increase the payout of their stock's dividend, they have double the reason to re-tweet your work and @ you! The same goes for Facebook, LinkedIn, YouTube, etc.
Do you write tweets, post on Facebook, or share information about your company or about a helpful article you've read (or written) on LinkedIn? If so, these are the same kinds of things that your investors may be re-tweeting, re-sharing, or just otherwise spreading throughout the Internet! This can further increase your readership on social networking sites and it can help your company grow.
More Ways EA Can Help Your Company
Getting some major help with your social media campaign is an amazing part of Empire Avenue, but there are some other ways it can be helpful for your company:
Do-follow link - On your Empire Avenue ticker page (profile), you are allowed one do-follow link to your website. Unfortunately, you don't get to include anchor text, but a do-follow link is still nice to have.
"Buy help" from other users - This isn't such a good idea, but it's definitely something you'll see on Empire Avenue. Users often offer to buy stock from others in return for the user giving a Facebook like or subscribing to a YouTube account.
Social Media Mavens Who Use Empire Avenue
These are awesome people who are not only power users of social media sites, but also great investments on EA.
Reg Saddler (Ticker: Zaibatsu) - Uber famous twitter user and Facebook user. Former superuser of Digg before he was banned (for no good reason) thereby causing unrest in the community.
Chris Pirillo (Ticker: Pirillo) - He is social networking. Pirillo is kind of like Matt (your default friend on MySpace), except everyone chooses to follow him. (Makes awesome posts on Google+)
Chris Latko (Ticker: Clatko) - Made famous on Twitter by the fact that he initially power-followed a ton of Twitter users, now makes awesome tweets. His Tumblr account is totally worth following.
Buying Ads - You can spend eaves you earn on site-wide ads. These ads are dirt cheap, too! You can use your ad space to ask people to invest in your stock or you can use it to advertise your website!
Networking - There are a number of groups and chat rooms on Empire Avenue that you can spend time in. Usually users are in there asking others to invest in their stock, but if you strike up a conversation, you'll be surprised by how nice and helpful other users are.
Learn Social Media!
Empire Avenue is perfect for use as a social networking strategy, but it's also a great tool for learning more about social networking.
Since re-tweets, follows, likes, and re-shares are the best way to increase your stock's dividends, it's important to make sure you make worthwhile posts on social networking sites.
If you're new to social networking, watching your dividend payout rate can help you to determine whether or not you're posting noteworthy things online.
Measure Your Social Media Influence!
Be sure to log in to your Twitter account to see if people are re-tweeting your stuff. If you find that people aren't re-tweeting your stuff, evaluate your approach.
If you make interesting, non-spammy tweets, people will be more likely to follow you and even re-tweet what you have to say. Engage in conversations on social networking sites and make it about having fun, not plastering links. Have fun!